The development and implementation of Smart Grid technology in the U.S. – reinventing the electrical grid with Wifi-enabled digital power meters – is proceeding at breakneck speed. Although Smart Grid is the result of years of government planning, the recent kickoff was made possible through massive "green" grants that were quietly included in President Obama's economic stimulus package starting in 2009.

These lucrative grants have drawn in a host of corporate players, from utility companies to digital meter manufacturers to control software vendors. Global companies like IBM, GE and Siemens are putting their full effort behind the "build-out" that will consolidate all of America into a single, integrated, communication-enabled electric delivery and monitoring system, collectively called Smart Grid.

Proponents of Smart Grid claim that it will empower the consumer to better manage his or her power consumption and hence, costs. The utility companies will therefore be more efficient in balancing power loads and requirements across diverse markets.